Clarkston Capital Partners LLC Sells 500 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Clarkston Capital Partners LLC trimmed its stake in Pinnacle West Capital Co. (NYSE:PNW) by 9.1% in the fourth quarter, HoldingsChannel reports. The firm owned 5,000 shares of the utilities provider’s stock after selling 500 shares during the period. Clarkston Capital Partners LLC’s holdings in Pinnacle West Capital were worth $424,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PNW. Vanguard Group Inc. increased its position in Pinnacle West Capital by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock valued at $1,202,116,000 after buying an additional 143,716 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Pinnacle West Capital by 0.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider’s stock valued at $581,945,000 after acquiring an additional 37,768 shares during the period. State Street Corp increased its holdings in shares of Pinnacle West Capital by 0.9% during the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock valued at $567,394,000 after acquiring an additional 56,644 shares in the last quarter. Zimmer Partners LP raised its position in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Pinnacle West Capital by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 2,880,315 shares of the utilities provider’s stock worth $243,897,000 after purchasing an additional 204,805 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 4.3 %

PNW stock opened at $91.15 on Friday. The stock has a market cap of $10.86 billion, a P/E ratio of 17.26, a P/E/G ratio of 3.59 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock’s fifty day simple moving average is $91.09 and its two-hundred day simple moving average is $89.12. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

PNW has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Jefferies Financial Group decreased their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Barclays raised their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a report on Tuesday, April 1st. Finally, Morgan Stanley upped their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.50.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.